Oct. 1 (Bloomberg) -- The U.K. financial-services industry
lost an estimated 9,000 jobs in the third quarter as revenue and
profit declined, according to a survey by Britain’s biggest
business lobby group.

Banks, insurers, asset managers and other financial firms
may eliminate a further 3,000 employees in the final three
months of the year, the Confederation of British Industry said
in a report today. At the end of June, the industry employed
1.14 million people in Britain, the CBI says.

“The U.K.’s lackluster economic performance is hanging
heavily over the industry,” said the CBI. “Faced with such
weak demand, the industry is continuing to take steps to reduce
its cost base.”

Banks, which face increased regulation after the 2008
financial crisis, are cutting jobs as Europe’s sovereign debt
crisis crimps income from trading stocks and bonds and the pace
of takeovers slows. Global mergers and acquisitions slumped in
the third quarter to a level not seen since the same period of
2009, according to data compiled by Bloomberg. Britain’s gross
domestic product fell 0.4 percent in the second quarter, the
Office for National Statistics said last week.

The survey said 19 percent more companies reported a drop
in sales than recorded a rise. The CBI and
PricewaterhouseCoopers LLP surveyed 104 banks, insurers,
customer-owned lenders, investment managers and securities firms
from Aug. 20 to Sept. 6.

Lowest Vacancies

Separately, a study published today by recruitment firm
Morgan McKinley said vacancies at London’s financial-services
companies fell to the lowest this year in September.

Openings in the City, London’s main financial district, and
elsewhere in the British capital declined 43 percent in to 2,205
from 3,843 in the year-earlier period, Morgan McKinley said.

“From talking to various financial institutions across
London, there is very little consistency in hiring plans for
both the immediate and longer term future,” Hakan Enver,
operations director at Morgan McKinley financial services, said
in its statement.

Nomura Holdings Inc. is eliminating about 100 investment
banking jobs in Europe as Japan’s biggest brokerage unwinds a
four-year-old international expansion, three people with
knowledge of the plans said on Sept 21. UBS AG, Switzerland’s
biggest bank, plans to cut about 80 to 90 jobs in its European
investment-banking division, two people with knowledge of the
matter also said last month. Most of those cuts will be in
London, the people added.

“It has proved to be an unexpectedly bad summer for
bankers,” said Mark Cameron, chief operating officer at Astbury
Marsden in a separate statement today. A number of banks
“continue to scale down their investment banking operations,”
he said.

Astbury Marsden said the number of new City jobs fell to
2,490 in September from 2,925 in August.